- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: WSJ Piece: Young Americans Are Getting Left Behind by Rising Home Prices, Higher Stocks
Posted on 4/27/24 at 8:57 am to DitkaAndDaBoers
Posted on 4/27/24 at 8:57 am to DitkaAndDaBoers
quote:
you own the house or not?
HOA or not enough space
0
Posted on 4/27/24 at 9:00 am to Displaced
A bigger problem is people wanting to keep up with the Jones. My parents (WWII) raised 8 kids in an 1100 sq ft. house and it never seemed like it was too small. People have too much JUNK instead of cash. I have a 2600 sq ft home and now that the kids are gone it’s too damn big. I now realize it was all a waste of money even though I dont accumulate JUNK. But of course the wife does as is the norm.
This post was edited on 4/27/24 at 9:01 am
Posted on 4/27/24 at 9:00 am to ragincajun03
Boomers voted for inflation and high mortgage rates because they want to make sure millenials never own a home
Posted on 4/27/24 at 9:22 am to Rick9Plus
quote:
There’s also the debt to income ratio for getting a new mortgage if you still have an old one.
True. Assuming you have a good history and not asking for a crazy amount, I feel like lenders may be a little lenient to try and get more people into loans right now.
Posted on 4/27/24 at 9:23 am to ragincajun03
They can always work 3 jobs like I do
Posted on 4/27/24 at 9:40 am to ragincajun03
quote:
But when you think about it, the current 7% to 8% if what 80s and early 90s babies' parents were used to as the norm.
This tells only a small part of the story. It's not just about rates. As a percentage of income, homes are more expensive than ever.
In addition, prices for goods have skyrocketed in tandem which makes affordability even worse.
Posted on 4/27/24 at 9:50 am to Displaced
quote:Is the loan assumable?
but will be selling our house with a 15 year 2.25% mortgage we refinanced in 2020...
If it is, you can sell your house at a premium
Posted on 4/27/24 at 9:56 am to ragincajun03
quote:
Homeowners who refinanced when the Fed slashed rates near zero during the Covid-19 pandemic don’t want to give up their 3% mortgages.
Ours is 2.3% but this is accurate. We've talked about downsizing in a few years when it's just me and my wife, but it wouldn't be a financially wise decision at this point.
Posted on 4/27/24 at 10:11 am to ragincajun03
quote:
But when you think about it, the current 7% to 8% if what 80s and early 90s babies' parents were used to as the norm.
All my student loans (all paid off by me) were 8% in the mid eighties and my first home in 93 was at 8%, but the other costs of living seem disproportionately higher now.
Posted on 4/27/24 at 10:13 am to TackySweater
quote:
Like a years long gap? Rental market is crazy right now. You’d likely have someone ready to move in right away.
Sure, but realistically our house could rent for $2200/month. Our mortgage is $1800.
That $400 would not feasibly bridge a gap on the purchase of a $675k house. We need the equity to pay down a loan and make a mortgage affordable at 7% interest.
Posted on 4/27/24 at 10:22 am to ragincajun03
The majority of young voters voted for Biden. So basically they’re getting what they voted for. Elections have consequences and now GDP is falling while inflation continues to persist so rates will continue to be high as well.
Posted on 4/27/24 at 10:39 am to ragincajun03
Young Americans just have to reassess on what square footage is needed vs. what is wanted.
A family of four can do just fine in 1700 sq ft 3Bed2bath...that's what I grew up with.
If you want 4 bed 3 bath and 2500+ sq ft combined income better be 200K+.
A family of four can do just fine in 1700 sq ft 3Bed2bath...that's what I grew up with.
If you want 4 bed 3 bath and 2500+ sq ft combined income better be 200K+.
Posted on 4/27/24 at 10:55 am to ragincajun03
Posted on 4/27/24 at 11:01 am to ragincajun03
Joe and the people actually running the country have done so much damage the last 4 years it’s not even believable. I thought to myself, “how much damage can they do in 4 years?” I think they proved a lot. I don’t know how anyone can defend what’s happened with the economy and inflation. We have lost so much spending power.
Posted on 4/27/24 at 11:05 am to LSU0358
quote:
A family of four can do just fine in 1700 sq ft 3Bed2bath...that's what I grew up with.
I agree and I raise a family of 5 in a house this size. The problem is inflation is destroying everything. It’s way higher than the estimated 24% over the last 3.5 years. The way prices have risen for almost everything has me stunned. Biden and company are clueless.
Posted on 4/27/24 at 11:07 am to Civildawg
quote:
Well yeah, but home prices for a starter home were like $75k not $300k. Huge difference when your interest rate is 7%
Nope that's when interest rates were 18% in early 80's. Young families were buying 300k+ houses in 2008 at the historically low rates of 7% in late 2000's.
Quit crying and figure it out like every generation before you.
Posted on 4/27/24 at 11:08 am to Bring Da Wood
quote:
The majority of young voters voted for Biden. So basically they’re getting what they voted for. Elections have consequences and now GDP is falling while inflation continues to persist so rates will continue to be high as well.
Biden is spending and printing like a drunken sailor, but at least he encouraged the raising of interest rates. Trump spent and printed like a drunken sailor and accused anyone who talked about raising interest rates to get in front of inflation of trying to sabotage his presidency. Both the right and left need to own their idiots.
Posted on 4/27/24 at 11:08 am to LRB1967
quote:
They can always work 3 jobs like I do
You work three jobs? Uniquely American, isn't it? It's fantastic that you're doing that.
Posted on 4/27/24 at 11:13 am to ragincajun03
Just tell the fools poverty is good for the environment. Give 'em nice 3 bedroom ramblers in the metaverse.
Posted on 4/27/24 at 11:20 am to SelaTiger
quote:
They want it to be like China. Families of 3 generations living in little homes together.
If we’re honest, this be great for Americans. Instead we have a single mother epidemic
Page 2 of 9
Popular
Back to top
Follow TigerDroppings for LSU Football News